Climate change

Florida's long coastline, low elevation and susceptibility to severe weather events increase its environmental risks, according to an S&P Global Ratings report.

Concerns range from frayed infrastructure to better communication in the face of the deadly flash flooding that caught the city by surprise in storm Ida.

Legislation backed by Illinois Gov. J.B. Pritzker gives two municipally owned coal plants more time to cut carbon emissions but they still face closure in 2045.

Boston-based Breckinridge will partner with Harrington Cooper to specialize in investment grade fixed-income and ESG integration for investors in the UK, Ireland, Continental Europe and Japan.

The Bond Buyer is seeking industry-wide input on environmental, social and governance factors in the public finance space.

The weirdness of this storm adds yet another layer of complexity to the vexing problem of coping with climate change.

Municipal issuers with the biggest threats from physical climate risk also have the largest liabilities for carbon transition.

The drenching of several regions exposed vulnerabilities that vary by state, and recurring problems that could jeopardize municipal credit.

The transition should not affect state credit, said John Ceffalio, senior research analyst for municipals at CreditSights.

John Ceffalio, Senior Municipal Research Analyst at CreditSights, talks with Chip Barnett about what to expect in the second half of the year. He discusses municipal bond market fundamentals, credit and climate disclosure. And he looks at the pandemic’s long-term risks for U.S. cities as the work-from-home culture becomes stronger and how higher education will cope with a new reality. (18 minutes)

The shutdown of a major California hydroelectric power facility underscores the severity of drought conditions in the state.

Rising sea levels could make catastrophic events such as recent subway flooding more intense and frequent in places including New York and Boston.

Sen. Patrick Toomey, the ranking Republican on the Banking Committee, has argued that research by the Federal Reserve into these topics could result in “mission creep.” Fed officials have said their job includes fostering inclusive economic growth and ensuring the banking system is girded against financial risks posed by climate change.

Experts weigh in on the potential impact of severe weather events and investigate the risks and solutions that may change the sector.

The question looms as to what point heightened wildfire activity becomes a significant risk for municipal debt.

To ensure continued economic growth, the state has seen a need to diversify into alternative water sources to meet projected needs as well as respond to drought and protect the environment.

Alan Rubin, principal, Blank Rome Government Relations

The U.S. Army Corps of Engineers and Miami-Dade are working on plans to protect against rising seas and violent storms, but will it be enough?

California Gov. Gavin Newsom and President Biden outlined separate plans Monday to increase spending to prepare for natural disasters.

The bulk of $743 billion in improvements needed to alleviate climate risk and aging infrastructure would be borne by the utilities, a rating agency says.